KUALA LUMPUR: Scomi Energy Services Bhd
has secured an extension for its contract to provide drilling fluids and services to Total E&P Indonésie.
Scomi Energy, which provides services to the oil and gas industry, said on Friday the on-year extension to the original contract was valued at US$41.60mil (RM183mil).
The contract is an extension from a previous three-year award which was signed with Total in 2012.
The extension is a boost to Scomi Energy, whose current orderbook is US$1.78bil.
Scomi Energy chief financial officer, Ramesh Veetikat Ramachandran said the contract was a huge vote of confidence about its capability.
“This win is the result of our continuous active bidding despite the global slowdown in drilling activities,” he added.
Indonesia has been Scomi Energy’s top performing market in recent years. For the quarter ended September 2015, it contributed over 24% to the company’s total revenue of RM294.4mil.
The combine revenue from Thailand, Myanmar and Vietnam was 18% followed by Malaysia at 13%.
Scomi Energy also said it had been working to expand its product portfolio to include enhanced oil recovery, completion fluids and tools as well as well bore clean up tools.
It also had commercialised its nano-fluid solutions in Malaysia and graphene-enhanced products in Myanmar.
It plans to expand its products to other active markets in the Southeast Asia and Middle East regions.
“Scomi Energy is currently in the midst of setting up of a shale shaker screen manufacturing plant in Malaysia. Once completed, the plant will cater to demand in the Eastern Hemisphere.
“ In addition, we are investing in a new water treatment system in collaboration with a technology partner,” he added.
Subscribe now for a chance to win your dream holiday!
